Citigroup Stock News

While artificial intelligence (AI) has dominated headlines for much of the year, and sent many tech stocks soaring, some of the strongest performance across equities has come from far less glamorous corners. Bank stocks are in the middle of a standout run, with the Financial Select Sector SPDR ETF NYSEARCA: XLF having just hit an all-time high.

President Donald Trump's move to relax federal marijuana regulations has been welcomed by the US cannabis industry, but it has not changed the sector's most persistent challenge. Access to mainstream banking remains limited, even as regulatory pressure eases, reports Reuters.

The Office of the Comptroller of the Currency terminated a July 2024 amendment to an October 2020 consent order with Citi having to do with deficiencies in the bank's risk management systems.

Citigroup took another step toward fixing its longstanding compliance problems, announcing on Thursday that a U.S. bank regulator had removed part of a sweeping punishment requiring the bank to tackle its issues.

The US Federal Reserve has lifted formal supervisory notices that required Citigroup to address weaknesses in its trading risk management. According to a Reuters exclusive, the decision marks a meaningful easing of regulatory pressure on the third-largest US bank, which has spent years working through control and data issues.

The U.S. Federal Reserve has told Citigroup that it has closed formal notices requiring the bank to fix trading risk management weaknesses, according to people with knowledge of the matter, a significant step in improving oversight and control deficiencies that have bogged down the third largest U.S. bank.

Banks can now settle transactions with Visa using Circle Internet Group's USDC.

BlackRock said on Monday that the head of Citi's investment management arm has joined the asset manager to lead an expanded partnership under which BlackRock will oversee about $80 billion in assets for the bank's wealth‑management clients.